BP Predicts The US Will Be Self-Sufficient In Energy By 2030http://www.businessinsider.com/bp-chief-peak-oil-theories-are-increasingly-groundless-2013-1/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Thu, 22 Feb 2018 00:58:23 -0500Fiona Harveyhttp://www.businessinsider.com/c/50f804ce69bedd2866000006newworldorderThu, 17 Jan 2013 09:03:58 -0500http://www.businessinsider.com/c/50f804ce69bedd2866000006
When it is desirable to restrict consumption technology can be improved by the mechanism of price increases. This can be done via excise taxes where supply is so abundant that overuse is a problem. Excessively cheap products undermine the development of forward supply by hollowing out investment in new infrastructure and sources. This generates a crisis when prices finally rise. New investment is the critical factor and in the USA we are substantially under invested. As soon as oil went well above 80. supply was abundant and much more efficient vehicles appeared. Compared to the mass of the Earth the entire biomass including all the people is not very significant and all people are about 100% recyclable. Think about Physics. You cannot "waste" anything really in that it only changes from one form to another.
100 miles down in the Mantle CO2 and H20 are forming more silicates and new crust emerging at sites like the mid-Atlantic ridge while hydrocarbons bubble up through fractures in the sea bottom.
All that we really require is new and better R&D.http://www.businessinsider.com/c/50f7f207eab8ea5539000006suggestionThu, 17 Jan 2013 07:43:51 -0500http://www.businessinsider.com/c/50f7f207eab8ea5539000006
How about just facing up to the reality our consumption of the planet's finite resources is unsustainable and will end with us facing extinction?
I think fusion power will be developed within the next 50 years and probably save our ass but that won't stop man destroying his environment before then.http://www.businessinsider.com/c/50f7ecaaecad042d55000003Peter VerkooijenThu, 17 Jan 2013 07:20:58 -0500http://www.businessinsider.com/c/50f7ecaaecad042d55000003
Question for the Peak Oil/End of Growth prophets; what do you suggest we do? Stop looking for energy sources? Go back to burning wood? Live cold and miserable lives? Kill ourselves or each other? What is your agenda? Have you stopped using oil yourselves?http://www.businessinsider.com/c/50f7df1beab8ea5c03000028itsmeThu, 17 Jan 2013 06:23:07 -0500http://www.businessinsider.com/c/50f7df1beab8ea5c03000028
"The Earth is a gigantic heat engine always producing more minerals. More rocks, sand, Gold, Silver, Copper, radioactive elements..."
Can you tell us how much time is needed to "create" oil, and how much time we take to waste it ???
That's the main problem, voracious stupidity...http://www.businessinsider.com/c/50f7b976eab8ead73d00000dAnton OlffThu, 17 Jan 2013 03:42:30 -0500http://www.businessinsider.com/c/50f7b976eab8ead73d00000d
Drill baby drill, Dig baby dig, Frack baby frack.http://www.businessinsider.com/c/50f7adad6bb3f7af3f000019agThu, 17 Jan 2013 02:52:13 -0500http://www.businessinsider.com/c/50f7adad6bb3f7af3f000019
Whatdaya mean rediculous . It must be true. BP dont make no mistakes.http://www.businessinsider.com/c/50f7956f69bedd1d5b000001See yaThu, 17 Jan 2013 01:08:47 -0500http://www.businessinsider.com/c/50f7956f69bedd1d5b000001
Well then since you are doomed --you know what you have to do . . . .http://www.businessinsider.com/c/50f790f2ecad04752300001dnorman cleggThu, 17 Jan 2013 00:49:38 -0500http://www.businessinsider.com/c/50f790f2ecad04752300001d
BP MUST take care of their own knitting and stop
relying on the UK and the US to pull their ignorant messy asses
out of the fire.
Damn BP for not having enough mercenaries on hand in Algeria.
BP does everything as cheap as possible.
BP mean cheap and dirty and scummy.http://www.businessinsider.com/c/50f784286bb3f73979000001newworldorderWed, 16 Jan 2013 23:55:04 -0500http://www.businessinsider.com/c/50f784286bb3f73979000001
Good Post! Have not looked at BP plc (ADR) but it sure looks good @44.09/share with a 8.0 P/E and a 4.9% dividend- wahoo- I am thinking of a target price of $80. on this too.
I will opt for the money here I think. Has to be a lock on 55./share in a year. Thanks ;-)http://www.businessinsider.com/c/50f77bc469beddd218000037drumsWed, 16 Jan 2013 23:19:16 -0500http://www.businessinsider.com/c/50f77bc469beddd218000037
Exactly! The cost of production is what the article ignored.http://www.businessinsider.com/c/50f774ec6bb3f7bf5c000002gmjWed, 16 Jan 2013 22:50:04 -0500http://www.businessinsider.com/c/50f774ec6bb3f7bf5c000002
We are extracting and burning our children's and grandchildren's fossil fuel. The next generations will have nothing.http://www.businessinsider.com/c/50f76d406bb3f7ba4f0000abToxicosisWed, 16 Jan 2013 22:17:20 -0500http://www.businessinsider.com/c/50f76d406bb3f7ba4f0000ab
Once again, 'predictions' are not assessments. Anyone can attempt to predict, and those with a vested interest in keeping their profits flowing will bend perception to fit their needs. But alas reality has a way of setting the record straight. When BP offers their factual assessment backed by hard numbers concerning both consumption and production and EROEI then perhaps we can perk up and listen.
Other than that, shills they are, and liars do they persist as.http://www.businessinsider.com/c/50f76c986bb3f74f49000017newworldorderWed, 16 Jan 2013 22:14:32 -0500http://www.businessinsider.com/c/50f76c986bb3f74f49000017
The amount of energy is limitless from a human perspective.
Carbon is the 4th most common element in the Universe and there are trillions of tons available with the Earth creating more continuously through abiotic geological action. The Earth is a gigantic heat engine always producing more minerals. More rocks, sand, Gold, Silver, Copper, radioactive elements...at the same times millions of tons of new matter including water and coal arrives from outside the atmosphere. It CANNOT be used up. Matter is converted from one form to another as is energy and as long as the Sun keeps shining we will never run out.
This does not mean we give it away cheap so it is simply wasted- $5./USG is cheap, too cheap by international standards. There will be plenty but you will need to ante up or go with public transit.http://www.businessinsider.com/c/50f7482469bedd361a000028shale oil can't meet demandWed, 16 Jan 2013 19:39:00 -0500http://www.businessinsider.com/c/50f7482469bedd361a000028
It's not the lack of oil that's the problem, it's the cost of production that's becoming more expensive, driving up the price of gas and stalling economic growth.
Demand in developing nations is continually increasing also pushing cost up even further.
The fact is, we already hit peak oil production back in 2007 and the use of shale technologies, offshore drilling and exploration in north pole only proves the low hanging fruit is almost completely gone.
From here onward, it is only going to be more expensive.
Tar Sands is actually a joke when you see the amount of energy invested to obtain 1 barrel of oil and shale oil isn't much better, they simply cannot meet the demand and never will.
This BP chief is an optimist and most business types fall into that category, but the pessimists are the geologists that search for oil in the first place, who would you trust more?
Remember Hubbard was ridiculed predicting US peak oil in 1970s but then we saw an energy crisis which led to economic recession due to lack of oil.http://www.businessinsider.com/c/50f71816ecad04d445000001Ian CooperWed, 16 Jan 2013 16:13:58 -0500http://www.businessinsider.com/c/50f71816ecad04d445000001
As Sweetdoug says, the above fantasy will seem a bit more real when oil is back at $30/bbl and gasoline costs $1.00/gallon. Until that happens, peak oil is a reality, no matter how much the oil industry wants it not to be so.http://www.businessinsider.com/c/50f6f48eeab8ea2303000008sweetdougWed, 16 Jan 2013 13:42:22 -0500http://www.businessinsider.com/c/50f6f48eeab8ea2303000008
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Wow. Did that ever not work out well, eh?
(Smiley face laughing with thumbs in his ears blowing a raspberry. It's the thought that counts, my Mud'da always said!)
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V-Vhttp://www.businessinsider.com/c/50f6f432ecad04517f000007sweetdougWed, 16 Jan 2013 13:40:50 -0500http://www.businessinsider.com/c/50f6f432ecad04517f000007
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Then I should be expecting a big price drop at the pump then?!?
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I'll be holdin' my breath!
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V-Vhttp://www.businessinsider.com/c/50f6f1c269beddc63f000009yayayayayayaWed, 16 Jan 2013 13:30:26 -0500http://www.businessinsider.com/c/50f6f1c269beddc63f000009
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They are not groundless, they are lies.http://www.businessinsider.com/c/50f6f0b56bb3f7ee61000001itsmeWed, 16 Jan 2013 13:25:57 -0500http://www.businessinsider.com/c/50f6f0b56bb3f7ee61000001
Ridiculous !
See: <a href="http://www.youtube.com/watch?v=F-QA2rkpBSY" target="_blank" rel="nofollow" >http://www.youtube.com/watch?v=F-QA2rkpBSY</a>